EDIT: OK, The video3 makes an assumption that IIS is using DefaultAppPool. For those not installing on a fresh install off IIS, and having permission issues... read on.
I believe the video is technically incorrect for assigning app pool and file permissions. The two combinations are mismatch.
When creating the site in IIS 7.5 your application pool should match the user permissions given write access to the root folder. In the video we are instructed to choose "Classic .NET AppPool". We are then instructed to add the user "IIS AppPool\DefaultAppPool" which leads to "DefaultAppPool".
This will only work if IIS is set up globally to set The Default DefaultAppPool. So a notation should be added the the Identity needs to be set to DefaultAppPool inside the Application Pool Advanced Settings.
More correctly for utilizing the granular permission introduced with IIS 7.5 would be to keep the name assigned by IIS for Application Pool to match your new site.
I believe it should be application pool = mynewsitePool, then you can add the user permission to the root folder by typing IIs AppPool\mynewsitePool.
A little better explanation:
Here.